140

LAWS OF MARYLAND.

lic may be fully informed as to the condition of com-

panies doing business in this State, the result of the

official examination of any company doing business

Official ex-

in this State shall, within thirty days thereafter, in

aminti'n shall

such condensed form as shall show the true condi-

be published

tion of the company examined, be published by the

in newspaper.

Insurance Commissioner at the expense of the com-

pany, in one daily newspaper printed and published

in the city of Baltimore.

Ninth. Whenever the Insurance Commissioner

shall have reason to believe that any insurance com-

Insolvent,
&c , or assets

pany is insolvent, or fraudulently conducted, or that

not sufficient

its assets are not sufficient for carrying on the busi-

ness of the same, or during any non-compliance with

Make com-
plaint to

the provisions of this act, he shall make complaint
thereof to the Judge of the Circuit Court of Balti-

Judge of Cir-

more city, or any Judge of the Circuit Court of the

cuit Court.

county where the company or agent may be located,

as the case may be ; which Judge shall, upon the

Judge shall

requisition of the commissioner, appoint a commis-

appoint com-

sion consisting of the Insurance Commissioner and

mission to ex-
amine busi-

two disinterested and competent persons, whose duty

ness and con-

it shall be to examine every detail of the business

dition of com-

and condition of said company, and report in wri-

puny.

ting the result of such examination to the Judge

Report in
writing.

appointing them, who shall, if in his judgment the

If charges

charges of insolvency, fraud, neglect or abuse, as

are sustained,

charged by the Insurance Commissioner, are sustain-

at once issue

ed by the said report, at once issue an injunction sus-

injunction.

pending the business of said company ; and the In-

Institute

surance Commissioner shall institute, or cause to be

proceedings
to close the

instituted, the necessary proceedings under the laws

affairs.

of this State, to close the affairs of any insurance

company of this State which shall appear to him,

upon examination, to be insolvent, or to be fraudu-

lently conducted ; and the Insurance Commissioner

Party to any
proceedings
for closing af-

is a necessary party to any proceedings instituted for
the purpose of closing up the affairs of any insur-
ance company when the same shall not be in the

fairs.

name of the State of Maryland. It shall be the du-

Report to

ty of the Insurance Commissioner to report in de-

Attorney-

tail to the Attorney General any violation of the

General.

laws relative to insurance companies, their officers

Power to in-

or agents, or the business of insurance ; and he shall

stitute suits.

have power to institute suits and prosecutions, either